We are advising Aeroméxico on the transaction

Davis Polk is advising Grupo Aeroméxico, S.A.B. de C.V. and its affiliate Aerovías de Mexico, S.A. de C.V. (collectively, “Aeroméxico”) in connection with its entry into a transaction with Aimia Holdings UK I Limited and Aimia Holdings UK II Limited (collectively, “Aimia”) and PLM Premier, S.A.P.I. de C.V. (PLM). The transaction will result in PLM, currently a joint venture between Aeroméxico and Aimia that owns and operates Aeroméxico’s loyalty program (“Club Premier”), becoming a wholly owned subsidiary of Aeroméxico. 

On February 4, 2022, the Bankruptcy Court entered an order confirming Aeroméxico’s chapter 11 plan of reorganization, which, among other things, authorized the PLM transaction. After obtaining Mexican antitrust approval, Aeroméxico, Aimia and PLM executed the definitive transaction agreement. The PLM transaction is expected to close on or about July 18, 2022.  

Club Premier was the first frequent flyer program established in Latin America and is Mexico’s leading airline loyalty program. Aeroméxico is Mexico’s flagship carrier and the leading Mexican airline in terms of fleet size and network. Aeroméxico, which began its operations in 1934, offers passengers a full-service, premium experience to 85 global destinations, including every major city in Mexico. As a founding member of SkyTeam, an alliance of 19 international airlines dedicated to providing passengers with a seamless travel experience, Aeroméxico connects Mexico with the world.

The Davis Polk restructuring team included partner Timothy Graulich, counsel Stephen D. Piraino and associates Richard J. Steinberg and Matthew Bruno Masaro. The corporate team included partner Leo Borchardt and associate Alexander W. Simmonds. Members of the Davis Polk team are based in the New York and London offices.